Public Hearing on the 9th Basic Plan for Power Supply: Coal Phase-Out and Nuclear Phase-Out

By 2034, 30 Coal Power Plants to be Decommissioned and Nuclear Power Reduced to 17 Units... New and Renewable Energy to Quadruple

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Moon Chae-seok] A public hearing on the "9th Basic Plan for Electricity Supply and Demand (Draft)," which includes the power generation facility plan for the 15 years from this year to 2034, was held on the 24th at the KEPCO Art Center in Seocho-gu, Seoul.

Considering COVID-19 prevention measures, only some stakeholders such as topic presenters and discussants attended the event on-site, and it was live-streamed on YouTube.

The 9th electricity plan draft released by the Ministry of Trade, Industry and Energy on the day focuses on gradually reducing coal and nuclear power generation while expanding renewable energy.

First, 30 coal power plants reaching their 30-year operational lifespan by 2034 will be decommissioned. However, to ensure supply stability, 24 of these will be converted to liquefied natural gas (LNG) power generation.

Units 1 and 2 of Boryeong, units 1 and 2 of Samcheonpo, and units 1 and 2 of Honam?a total of six units?will be completely decommissioned by 2022.

Units 3 to 6 of Samcheonpo, units 1 to 4 of Taean, units 1 to 4 of Hadong, units 1 to 4 of Dangjin, and units 5 and 6 of Boryeong?a total of 18 units?will be replaced by LNG power generation from 2023 to 2030.

Units 5 and 6 of Taean, units 5 and 6 of Hadong, and units 1 and 2 of Yeongheung?a total of six units?will be converted to LNG power generation from 2031 to 2034.

The seven coal power plants currently under construction?Gangneung Anin Thermal Power Units 1 and 2, Samcheok Thermal Power Units 1 and 2, Seocheon Shinseocheon Thermal Power Unit 1, and Goseong Hai Thermal Power Units 1 and 2?will be completed as scheduled.

Accordingly, the installed capacity of coal power plants will decrease from 35.8 GW (58 units) this year to 29.0 GW (37 units) in 2034.

Nuclear power generation will peak at 26 units in 2022 when Shin-Hanul Units 1 and 2 are completed, following the principle of prohibiting new construction and life extension, and then decrease to 17 units by 2034.

From 2023 to 2034, Shin-Kori Units 5 and 6 will be completed, and 11 aging generators will cease operation. As a result, installed capacity will shrink from the current 23.3 GW (24 units) to 19.4 GW (17 units) in 2034.

Shin-Hanul Units 3 and 4, whose construction was halted under the previous nuclear phase-out roadmap, will be excluded from the power supply sources.

The installed capacity of LNG power generation will increase from 41.3 GW this year to 58.1 GW in 2034.

This is due to the construction of Yeoju Combined Cycle, Tongyeong Combined Cycle, Eumseong Natural Gas, and Ulsan GPS by 2024, and the conversion of aging coal power plants to LNG power generation by 2034.

The installed capacity of new and renewable energy will increase about fourfold from 20.1 GW this year to 77.8 GW in 2034, reflecting the Renewable Energy 3020 Plan, Hydrogen Economy Activation Roadmap, and Green New Deal Plan.

The mid-term target for renewable energy power generation facilities as of 2025 has been raised from the previous 29.9 GW to 42.7 GW, indicating an acceleration in renewable energy deployment.

According to the plan, the composition ratio of power sources based on effective capacity in 2034 will be LNG (47.3%), coal (22.7%), nuclear (15.5%), new and renewable (8.6%), and others (5.9%).

Compared to this year, LNG and new and renewable energy will increase by 9.9 and 5.3 percentage points respectively, while coal and nuclear will decrease by 9.2 and 5.5 percentage points respectively.

The Ministry of Trade, Industry and Energy expects to maintain a stable power supply with a reserve margin of over 18% until 2028.

Additionally, from 2029, it plans to achieve a reserve margin of about 22% through new facility construction.

The draft plan also includes a goal to reduce greenhouse gas emissions in the power sector to 193 million tons by 2030, a 23.6% reduction compared to 252 million tons in 2017.

The Ministry plans to finalize the electricity plan by reflecting opinions gathered at the public hearing and hold the Electricity Policy Deliberation Committee meeting at the end of this month to confirm it.

This content was produced with the assistance of AI translation services.